Amendment in Securities Contracts Rules to offer regulatory clarity to enhance ease of doing business for brokers
The Department of Economic Affairs (DEA), Ministry of Finance, amended Rule 8 of the Securities Contracts (Regulation) Rules (SCRR), 1957. The amendment gives regulatory clarity to enhance ease of doing business for brokers. After taking note of the concerns raised by various stakeholders over certain provisions in the said Rules, the DEA had released a Consultation Paper in September, 2024, inviting stakeholder comments.
Given the growth in the scale and interconnectedness of the financial sector and the evolution of nature of business of brokers with time, the DEA felt it necessary to review the appropriateness of safeguards embedded in the Rules so that the intent of the Rules is served without constraining activities of the stakeholders.
The amendment has been carried out after due consideration of feedback from the stakeholder and is part of the broader emphasis of the Government to provide regulatory clarity and enhance ease of doing business in the financial sector. It will ensure that market intermediaries continue to support the development of India's capital markets in a transparent and well-regulated manner.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
NGT slams UP govt over gaps in sewage, waste mgmt report
Agra: The National Green Tribunal (NGT) has pulled up the Uttar Pradesh (UP) govt, citing several shortcomings in its report on the status of sewage treatment plants (STPs) and solid and liquid waste management across various districts of the state, including Agra. A three-member bench comprising chairperson Justice Prakash Shrivastava, Justice Sudhir Agarwal and expert member A Senthil Vel, in its order released on Saturday, has directed the state to address the deficiencies and submit a revised report in a prescribed format ahead of the next hearing on July 28. According to the green tribunal's six-page order, the state govt's report, dated April 16 and submitted on May 24, "failed to identify critical gaps and did not comply with the Solid Waste Management (SWM) Rules, the Water (Prevention and Control of Pollution) Act, and relevant Supreme Court (SC) directives". "Against the disclosure of 95% waste processing capacity (19,014 tons per day), the actual segregated waste stands at only 74% (14,884 TPD). This discrepancy needs clarification," the order stated. It further noted that the report failed to explain the operation of waste processing plants lacking mandatory authorisation under the SWM Rules. The tribunal pointed out that while the report covered waste generation in 762 urban local bodies (ULBs), it did not specify the actual quantity of waste being processed. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký It also questioned the claim of 100% remediation of legacy waste at 60 sites, stating that no supporting evidence had been provided. Legacy waste refers to solid waste that has been collected and left untreated for years in landfills or open grounds. "Figures indicate that 60 sites have been remediated and only 26 remain with legacy waste. However, since many ULBs still lack processing facilities, there must be specific disclosure of legacy waste in those areas," the order said. Additionally, the NGT noted the absence of details on the operational status of waste-to-energy plants. The NGT also raised concerns regarding discrepancies in the planning and distribution of STPs. It pointed out that while some cities like Agra, Bijnor, Anupshahar, Chitrakoot Karwi, Pilkhuva, Kannauj, and Bela Pratapgarh have STPs with excessive capacity relative to sewage generation, many others, including Bahraich, Banda, Deoria, Fatehpur, Gonda, Hathras, Sambhal and Bhadohi, do not have STPs at all. It also flagged anomalies such as the case of Garh Mukteshwar, which reports zero sewage generation but has two STPs. The court was hearing the matter in the context of a 2018 SC ruling in Paryavaran Suraksha Samiti & others vs. Union of India & others, which issued key directives for controlling river pollution and improving the treatment of industrial and domestic waste. The apex court had mandated municipalities to ensure functioning STPs and set deadlines for new STPs and common effluent treatment Plants (CETPs), while also allowing the UP govt to approach the NGT to seek modifications in the implementation timelines. The NGT was tasked with monitoring compliance.
Hans India
9 hours ago
- Hans India
Institutional credit to agriculture grows nearly 4 times to Rs 27.5 lakh cr in 11 years
New Delhi: In the last 11 years under the Prime Minister Narendra Modi's government, institutional credit to agriculture has surged from Rs 7.3 lakh crore to Rs 27.5 lakh crore, the Ministry of Finance said on Saturday. Under the leadership of PM Modi, farmer-first governance has led to a historic surge in support prices, timely credit, and record payouts — ensuring security and stability for every cultivator, the minister said in a post on X social media platform. 'PM Modi ensured no 'annadata' is left waiting for timely financial support with institutional credit to agriculture nearly quadrupling — from Rs 7.3 lakh crore in 2013-14 to Rs 27.5 lakh crore in 2024-25,' the ministry further stated. From marginal fields to global shelves India's farmers are rising like never before. Since 2014, under PM Modi's leadership, 'our 'annadatas' have gained dignity, income support, MSP assurance, agri-infra, and global market access,' according to the government. Kisan Credit Card (KCC) scheme has also become a lifeline for millions of farmers. KCC is a banking product that provides farmers with timely and affordable credit for purchasing agricultural inputs such as seeds, fertilisers, and pesticides, as well as for meeting cash requirements related to crop production and allied activities. 'Over 465 lakh applications have been sanctioned with Rs 5.7 lakh crore credit limit,' according to Finance Minister Nirmala Sitharaman. The scheme has led to 'easy access to short-term crop loans'. About Rs 5.7 lakh crore have also been sanctioned in credit, with 'interest as low as 4 per cent with timely repayment'. With the KCC scheme, farmers can get up to Rs 3 lakh loan at just 4 per cent interest, if repaid on time. An additional Prompt Repayment Incentive of 3 per cent is also being provided to farmers on timely repayment of loans, which effectively reduces the rate of interest to 4 per cent for farmers. Thus, for every one lakh KCC loan, farmers can save up to Rs 9,000 in interest per year.
Indian Express
15 hours ago
- Indian Express
Street vendors owe ₹85 crore as fee to Chandigarh civic body: Data
STREET VENDORS in Chandigarh owe ₹85 crore as fee to the Municipal Corporation of Chandigarh. There were 10,589 registered street vendors in all, but the licenses of 6,904 vendors have been cancelled for failing to clear their dues. 'We are taking strict action against the defaulter vendors, who are not clearing their we de-registered licenses of 6,904 vendors,' said Sumeet Shubhankar, Joint Commissioner, Chandigarh Municipal Corporation. As per official data, only 4,035 vendors are paying their dues regularly at present. His ward-wise list of vendors along with their dues is being uploaded on the MC house meeting agenda for June 10 for discussion. During the MC house meeting, a policy for allowing certain street vendors to operate in some areas of Chandigarh may also be taken up. As per the Chandigarh Street Vendors (Protection of Livelihood and Regulation of Street Vending) Rules, 2018, which came into effect on July 18, 2018, various 'Teeh Bazaars' are allowed in the city. Amritsari naan* sellers are allowed to place tables and chairs in front of their shops. The MC officials said that 'vendors of kulcha chholay, channa bhatura, tandoor, Amritsari naan, are not allowed to place tables and chairs in front of their shops, rather they are to serve food in a proper manner in the area of 5×6 only'. However, when contacted, Jaipur Singh Bunty, who is also Street Deputy Mayor, said that all other vendors are making payments on time, except the slot of illegal vendors. It is unfortunate that the MC is not acting against illegal/ street vendors, he said. 'What are the MC inspectors doing if these illegal vendors are there in the MC list?' Jaipur Singh Bunty asked. 'They always say that vendors of kulcha chholay, chana bhatura, etc, are not paying the fees regularly. But if we talk about the records, they are making regular payments. I request the MC officials to act against the illegal vendors, not the vendors of kulcha chholay, channa bhatura, etc,' he added. THE MUNICIPAL Corporation (MC), Chandigarh on Thursday removed 23 illegal vendors and issued 37 challans in areas like Sector 17 and Sector 22 market and Sadar Bazaar in Sector 19 in its anti-encroachment drive. The action was taken following the instructions of Municipal Commissioner Anindita Mitra. A total of 23 vendors were removed and 37 challans were issued in the city during the drive. According to civic officials, several unauthorised vendors were found occupying footpaths and other public spaces, creating obstructions for pedestrians and local businesses. Fines and penalties were imposed on the violators. Joint Commissioner Sumeet Shubhankar said that the enforcement team and area inspectors undertook a special inspection in the market areas to identify and take action against encroachments. The MC has intensified its enforcement activities to ensure the proper use of public spaces and maintain civic order. The civic body appealed to the vendors to operate within the designated zones and follow the rules to avoid penalties and other violations.
